The iShares Silver Trust (SLV) surged 7.29% during Monday's intraday trading, mirroring a rally in silver prices to record highs as investors sought safe-haven assets amid escalating geopolitical risks and economic uncertainties.
The spike followed heightened tensions in Iran, where unrest has claimed over 500 lives, and U.S. threats of military action. Concurrently, a criminal probe into Federal Reserve Chair Jerome Powell by the Trump administration weakened the dollar and fueled bets on rate cuts, boosting non-yielding assets like silver.
"Precious metals are benefiting from a perfect storm of geopolitical instability and dovish Fed expectations," noted analysts, adding that central banks may increase silver holdings as a hedge against dollar volatility.
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